Exercise 2 Creates the T accounts for the submitted transactions. Carlos Rodríguez started a construction business. During the first month, the following transactions were made: February 1 Carlos Rodriguez made an initial investment in the business for $40,000. Materials (supplies) were purchased for $2,000 in cash. A construction was made to a customer for $7,000 and paid in cash. 10 A roof of a house was worked for $4,000 on credit. 12 Construction equipment was purchased for $1,300 on credit. 15 A month's rent was paid for $1,800. 18 A truck was purchased on credit for $25,000. 20 A payment was made to the purchased truck's account for $1,000.

Exercise 2 Creates the T accounts for the submitted transactions. Carlos Rodríguez started a construction business. During the first month, the following transactions were made: February 1 Carlos Rodriguez made an initial investment in the business for $40,000. Materials (supplies) were purchased for $2,000 in cash. A construction was made to a customer for $7,000 and paid in cash. 10 A roof of a house was worked for $4,000 on credit. 12 Construction equipment was purchased for $1,300 on credit. 15 A month's rent was paid for $1,800. 18 A truck was purchased on credit for $25,000. 20 A payment was made to the purchased truck's account for $1,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Exercise 2
Creates the T accounts for the submitted transactions.
Carlos Rodríguez started a construction business. During the first month, the following
transactions were made:
February
1
Carlos Rodriguez made an initial
investment in the business for $40,000.
Materials (supplies) were purchased for
$2,000 in cash.
A construction was made to a customer
for $7,000 and paid in cash.
10
A roof of a house was worked for $4,000
on credit.
12
Construction equipment was purchased
for $1,300 on credit.
15
A month's rent was paid for $1,800.
18
A truck was purchased on credit for
$25,000.
A payment was made to the purchased
truck's account for $1,000.
20

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